Murdoch withdraws BSkyB bid

Hours before MPs were expectedly to unanimously support a Labour motion calling for Rupert Murdoch to abandon his bid
to takeover BSkyB, the media magnate has done just that.

The news was broken on Twitter with both PoliticsHome and Robert
Peston, Business Editor for the BBC stating simply: "News Corp
withdraws BSkyB bid".

Wired has now had confirmation from the House of Commons press
office that the debate will go ahead despite this news.

It is set to take place this afternoon (13 July) around 4pm but
the vote, says the
BBC, will probably not have happened until around 7pm. It
stated: "That this House believes that it is in the public interest
for Rupert Murdoch and News Corporation to withdraw their bid for
BSkyB."

Both the Liberal Democrat and Conservative parties have
confirmed their support on the motion, although the BBC
adds that Culture Secretary Jeremy Hunt will abstain as he has
"a quasi-judicial role in the final decision". The Prime Minister
himself said: "They [News Corp] should stop worrying about mergers
and sort out the mess they have created."

Wired was told by a spokesperson at the Department of Culture,
Media and Sport that the motion is not legally binding but simply
"expressing the will of the House".

David Cameron, who is meeting the family of Milly Dowler today,
is not expected to attend the debate, the BBC's Laura Kuenssberg said in a TV report. He has, however, given a
speech today in which he announced Lord
Justice Leveson will head up the inquiry. This statement has been
followed by Prime Minister's Questions, in which, as the BBC
reports, he said that, from now on, ministers and civil
servants will be required to record meetings with senior editors
and media executives. He added his hope that this will help make
the UK government "one of the most open in the world". Cameron also
admitted:"Your bins are gone through by some media organisations
but you hold back from dealing with it because you want good
relations with the media."

This will be the Prime Minister's last Question session before
the Summer Recess.

Deputy Prime Minster Nick
Clegg had already called on Rupert Murdoch to abandon the bid,
which has now been referred to the Competitions Commission. The
investigation could take as long as six months. In the meanwhile,
Ofcom will carry out a "fit and proper" test on News Corporation to
deem whether it is suitable to take the 61 percent share of BSkyB
that it currently doesn't own.